U.S. EV Market Sees Record Sales And Charging Growth In November 2024

The United States (U.S.) electric vehicle (EV) market displayed great momentum in November 2024, with sales and charging infrastructure both reaching meaningful milestones based on the latest report from the Joint Office of Energy and Transportation.

EVs Capture Greater Market Share

According to the Joint Office of Energy and Transportation, November saw the sale of 141,442 plug-in EVs (PEVs), representing an 11.5% increase compared to the same month in 2023. Of these sales, battery EVs (BEVs) accounted for 117,929 units, while plug-in hybrid EVs (PHEVs) contributed 23,513 units. This robust performance helped push the total PEV sales for 2024 to over 1.4 million vehicles, marking a 9% increase from the same period in 2023.

Notably, EVs have secured a substantial share of the overall automotive market, now representing 10.4% of all light-duty vehicle sales. This marks a substantial increase from 9.4% in 2023 and 6.8% in 2022, indicating growing consumer acceptance of EVs. When considering the cumulative impact, more than 6.1 million PEVs have now been sold in the U.S. to date.

New Entrants and Established Brands

The market is being energized by new entrants and strong performances from established players. The Honda Prologue and Chevrolet Equinox EV have made special debuts, with month-over-month sales increases of 65% and 69% respectively. Ford’s EV lineup showed particular strength in November, with the Mustang Mach-E experiencing a 79% sales increase and the F-150 Lightning joining the top 10 bestsellers with a remarkable 96% growth in sales compared to October.

Charging Infrastructure Expansion

Supporting this sales growth, the charging infrastructure continues to expand rapidly. November saw the addition of 2,490 new public charging ports across the country, expanding the national charging network by 1.2%. The network now encompasses more than 205,000 charging ports distributed across 74,500 locations nationwide.

A Maturing EV Market

The federal National Electric Vehicle Infrastructure (NEVI) program is making significant contributions to this expansion, with 14 new stations adding 56 fast-charging ports across Ohio, Hawaii, New York, and Texas in November alone. Currently, 289 federally funded public charging ports are operational through various programs, including NEVI, CFI, and RAA initiatives. Moving forward, projects are already in motion to deploy more than 24,000 additional federally funded chargers.

Read More: U.S. EV Market Hits New Milestone: Capturing 19.6% Of New Car Sales In 2024

These developments in both sales and infrastructure paint a picture of a maturing EV market in the U.S., with increasing consumer adoption supported by expanding charging capabilities. The consistent growth in market share and the successful launch of new electric models suggest that the transition to EVs continues to gain momentum, setting the stage for further expansion in the coming years.

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